The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-01-07

bic railroads sttempt now TO max,
money! Not by the business Of thei
roads, but by stock iobbing that wa
inevitable. 1t was in the nature o
things. II vas not tie Temunera
tive railroads that furnished business
for the stock exchange. 1t was no
dealing in the stock OF remunerztiv'
railroads that produced psnics tina
made nj lilo mares and pauptr5 in thit
county. He claimed that the bill
was in the direc ion OF forcing C con
solidAtion OF railroad companies, and
said that some railroad men believed
in that a. the best outcome OF the rail
road problem. No truer sentence
was over uttered than that where
combination is possible competition IL
impossible. This bill left open and
invited tho worst kind OF combipa.
tion-the consolidation OF railroad cor.
p )rate capital. Whist we're the rail-
roads TO do il prohibited from making
pooling aIrangements7 Experience
taught that the old rate wars would
begin again, and the end of il would
be, as it always had been, consolida-
ton. The monopolies of this country
had been built on the graves of weak
com petitors. The bill invited q grand
monopoly OF railroad capital in this
country which would be built on the
graves OF the railroads that are not
able 10 stand in the competition.
That railroad monopoly would be the
MASTER Of che people. He be-
lieved it better to have business kept
in great many hands than to have il
consolidated. He believed IL better to
let the little country stores live than
to build up great mercantile establish
ments at their expense. He believed
II better tn let The weak railroads live
than to build up one magnificent rail.
road corporation that would OCCUPY 10
the railroad business of the country
the same position as the Western
Union Telegraph Company bears to
the telegraph business of the country
Specimens OF that kind OF conscllda
ton OF railroad comp lnies we're today
tbs Pennsylvania railroad with a sys.
tenn Of over 1000 miles under ons man
sgemeRt, and the Wabash system with
its gigantic system Of $500 miles, He
characteriz the two clauses las to
"the long and short haul" and ito
prohibit pooling") as a most glaring
inconsistency, which recalled the
couplet: "You're damned If you do,
and you're damned il you don't" He
also argued that the effect of the bill
would bs TO place the American rail-
roads, 90 far as the business from the
West 10 the Atlantic seaboard ia con-
cerned, at tho mercy of the Grand
Truck railway Of Canada. As to the
intimation tina. 1t would be necessary
to adopt the conference report in or
der to have any legislation on this
subjact at this session, he did not
think it was well founded
Senator Morgan opposed the bill.
Alabama, hei said, was at the farth er
southern margin OF the United States.
The markets in which her people
bought their dry goods and large
part oil their groceries were at the far
Northeast, and there was a broad in
tervening area between them. The
markets In which they bought their
food supplies, Chicago, st. Louis and
Cincinnati, were also far distant from
Alabama. The markets in which they
cold their products were all distant.
They had vsst tract of country to
CROSS N getting either to the market
OF purchase or the market OF sale, so
that he thought that any bill which
fore ed the railroad companies to raise
their charges on freights for long
hauls would he necessarily inimical to
tho Test Interests OF his State. He
argued that the States were perfectly
competent to deal with this gu oject,
and that the Interference of the Fede-
raj q lvernment would lead to still
furtAer invasions, until the manage.
ment OF railroads would eventually
become the most absorbing business
OF Congress. he could not
subscribe to the doctrine
that interstate commerce could
only DO protected through tbs action
OF Congress, The bill was based solely
on that false premise. 1t opened the
door to the interference of Congress
with every regulation OF trade and
1t exposed the charter OF
every railroad company (given by
Statee, 10 notifications through acts
Of Congress- The principle of this oil
would end in making merchandise of
politics, while it ruled aud ruined
business. AS he read this bill (the iu-
serpretltioD of which was 80 uncertain
hat everyone had to interpret it fur
himseI it necessitated the decrease
)t rates on long hauls ia all cases
where the roads could not Sacrifices a
srge part OF their income. He was
,onvi need that the roads 10 the coal
and iron fields OF Alabama could not
10 that; aud the burden would fall
very heavily on those new industries
IL Alabama, and would probably de-
troy them.
Senator Cullom said he was vtry |
anxious to hsve the bill disposed OF |
Is soon as possible, consistent with a |
lair discussion, and he therefore gave |
notice that on Tue day or Wednesday
lext he would ask the Senate to re-
nan In session until the subject was
disposed Of
Senator Hoar demonstrated against
'utdng of debate on a bill that would |
operate go seriously upon modern
commerce and would so greatly affect
he Interests of the city and State
which he represented.
SENATOR Cullom said that the Sens-
or had plenty of time to prepare for
he discussion, since the conference
eport had been made. Besides, the
ill ms reported was not very different
ON that which passed the Senate a
car ago Iu his judgment, the bill,
I passed, would not interfere with
modern commerce at all, nor with the
interests OF Boston or Massachusetts,.
After sn executive session tae Sen.
Ito adjourned.
SHE AOUsE.
During the morning hour the House
an ~ ~, stt,u 6 A. |